Bitcoin?

[F4U57]

I don't hold any Bitcoin (I did but traded it years ago), but my highest earner right now, AMN, has gone up 139% in the last week and taken me back to a 0% loss since I invested at the "all time high" back in 2017 when everyone else fomo'd in. I'm an ICO investor. Obviously, I am very happy to get back to where I started but who knows where it will go... Anyway, for anyone interested...

https://amon.tech/

https://coinmarketcap.com/currencies/amon/

https://bit.ly/33yCJxI

 

[NeoSneth]

Seems like something propped up by Chinese millionaires evading the CCP. There's a reason why people always mention the current DOLLAR value when talking about Bitcoin, and I really suggest anyone with significant 'coin to cash out at least partially. There's really no telling what the future of bitcoin will look like.

The fact that the days where acquiring bitcoin was easy is long gone but people are still enthusiastically trying to have people jump in screams pyramid scheme to me. Ok maybe Bitcoin isn't but a lot of other spinoff digital coins pretty much are.

Eh. BTC and blockchain are not that invisible. CCP is likely tracking BTC fairly well.

 

[TonK]

Eh. BTC and blockchain are not that invisible. CCP is likely tracking BTC fairly well.

Especially the guy I argued with on twitter about XRP. Really stupid people about to get really hurt within the next few weeks.

 

[TonK]

Exited at $32k

I bet this runs up to $40k before popping.

 

[basic]

Exited at $32k

I bet this runs up to $40k before popping.

based upon previous cycles...probably a lot more before any real/severe correction occurs. unless, of course, something major happens.

 

[racecar]

damn this run up can't be good for the stock market... maybe 2021 is the big one .

 

[evil wasabi]

damn this run up can't be good for the stock market... maybe 2021 is the big one .

The big what? Crash?

 

[racecar]

The big what? Crash?

yes the big crash

 

[TonK]

based upon previous cycles...probably a lot more before any real/severe correction occurs. unless, of course, something major happens.

The ol "but every millionaire can't own one" bit?

Bitcoin is useless as tits on a bull.

 

[Lach]

How does one actually cash out? I've been interested in mining but I want out almost immediately after earning a hundred at a time to ensure I get something out of it in real money.

 

[NeoSneth]

How does one actually cash out? I've been interested in mining but I want out almost immediately after earning a hundred at a time to ensure I get something out of it in real money.

Almost all mining is done cooperatively(pools), and they don't let you cash out until you've mined a minimum, which is a lot more than $100.
Mining can still be done if you get the latest Asic's and you have access to free power.
I think the majority of people just buy it outright.

 

[neogeostore]

How does one actually cash out? I've been interested in mining but I want out almost immediately after earning a hundred at a time to ensure I get something out of it in real money.

I keep my BTC wallet on Coinbase Pro. I bought my bitcoin there, and whenever I want to sell it, I just click the "sell" button and they fill the sell order when they can, which is quickly. Lately, I've been making thousands each month in profit, and I'll buy more soon. BTW, most people use Coinbase instead of Pro, but Pro doesn't cost any extra and you pay way smaller transaction fees when buying and selling, and there are more features.

 

[evil wasabi]

How much Bitcoin did China seize when the disappeared Jack Ma?

 

[basic]

The ol "but every millionaire can't own one" bit?

Bitcoin is useless as tits on a bull.

that is not at all what i said.

the tech, in my opinion, is compelling (specifically trustless transactions) but is it useless? sure, if no one ever ends up using it and has no value it could be useless. but i would not say that on its face it is useless.

 

[racecar]

How much Bitcoin did China seize when the disappeared Jack Ma?

he's fine just laying low in alibaba headquarters. Main purpose of bitcoin in china, its mostly for corrupt chiness officials to moved their money out of china . Most chinese cant buy a bitcoin with their annual salary .

 

[StevenK]

Almost all mining is done cooperatively(pools), and they don't let you cash out until you've mined a minimum, which is a lot more than $100.
Mining can still be done if you get the latest Asic's and you have access to free power.
I think the majority of people just buy it outright.

How much free power are we talking about? I have a standard 240v plug socket I can use for free 24/7, what kind of money could I make off of that, throwing a couple of grand or so at a PC?

 

[neogeostore]

How much free power are we talking about? I have a standard 240v plug socket I can use for free 24/7, what kind of money could I make off of that, throwing a couple of grand or so at a PC?

Without a multi-thousand-dollar investment, it's hard to make significant money at home mining bitcoin these days. We used to do it about 8 years ago and bought a $5200 ASIC machine. Worked well--mined 15+ bitcoins back in the day. The computing power necessary to mine coins always increases, so it takes much more power to mine today. However, if you have free power (and the ability to cool the unit because it runs very hot), you can definitely make money if you buy the best miners. Some version of Antminer units are the best these days, I think.

https://www.cryptocompare.com/mining/calculator/btc

 

[redfield0009]

It's weird how people jump in at all time highs. I bought mine in 2013 and wouldn't buy at the current price.

During the last bullrun lots of people lost it all. Mortgages, life savings, everything.

Plenty of suicides during the crash too.

 

[redfield0009]

Without a multi-thousand-dollar investment, it's hard to make significant money at home mining bitcoin these days. We used to do it about 8 years ago and bought a $5200 ASIC machine. Worked well--mined 15+ bitcoins back in the day. The computing power necessary to mine coins always increases, so it takes much more power to mine today. However, if you have free power (and the ability to cool the unit because it runs very hot), you can definitely make money if you buy the best miners. Some version of Antminer units are the best these days, I think.

https://www.cryptocompare.com/mining/calculator/btc

There is no profit in mining. I was running a house filled with miners back in 2016/17.

The house was empty because of the noise, we also had to build exhaust systems for the heat.

Profit was amazing for 6 months. Then the difficulty rose like a bitch. The same miners that were making 100+ a day sunk to 16 bucks, then only a dollar or two.

In the end we couldn't sell the miners we had, and bitmain was doing some shady bullshit with pre-orders.

You could buy 10 miners from them, and then they would run them for weeks and ship when the difficulty rose.

 

[neogeostore]

You could buy 10 miners from them, and then they would run them for weeks and ship when the difficulty rose.

Dude--that is truly fucked up.

 

[evil wasabi]

It's weird how people jump in at all time highs. I bought mine in 2013 and wouldn't buy at the current price.

During the last bullrun lots of people lost it all. Mortgages, life savings, everything.

Plenty of suicides during the crash too.

How much does a person have to lose to kill themselves?

 

[redfield0009]

How much does a person have to lose to kill themselves?

One guy sold his house and went all in on bitcoin back in December 17 back when BTC hit 20k. I think by spring his coins were only worth a few thousand total.

He posted in r/cryptocurrency to try and warn others to not be like him and that he planed to kill himself. I believe his wife left him as well.

 

[racecar]

Without a multi-thousand-dollar investment, it's hard to make significant money at home mining bitcoin these days. We used to do it about 8 years ago and bought a $5200 ASIC machine. Worked well--mined 15+ bitcoins back in the day. The computing power necessary to mine coins always increases, so it takes much more power to mine today. However, if you have free power (and the ability to cool the unit because it runs very hot), you can definitely make money if you buy the best miners. Some version of Antminer units are the best these days, I think.

https://www.cryptocompare.com/mining/calculator/btc

looks like ether is better in profit wise

 

[Lach]

One guy sold his house and went all in on bitcoin back in December 17 back when BTC hit 20k. I think by spring his coins were only worth a few thousand total.

He posted in r/cryptocurrency to try and warn others to not be like him and that he planed to kill himself. I believe his wife left him as well.

Well that was dumb.

 

[theMot]

It's weird how people jump in at all time highs. I bought mine in 2013 and wouldn't buy at the current price.
.

If you bought in 2013 you should be stinking rich by now, congratulations!

If you’re not stinking rich, then we probably shouldn’t take your advice!